Comments on: Two Social Media Marketing Campaigns: the Big-Budget Movie vs. the Charleston Bank – and Why We’re Betting on the Bank http://area224.com/bet-on-the-bank/ Social Media Marketing and Strategic Communications Tue, 27 Jul 2010 23:00:58 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Dave http://area224.com/bet-on-the-bank/comment-page-1/#comment-413 Dave Tue, 27 Oct 2009 21:45:41 +0000 http://area224.com/?p=139#comment-413 Ted - VERY INSIGHTFUL! Funny that I was taking pains to be nice to the movie folks, but you saw it as a possible negative ROI and an expensive CPA proposition. This is one of the challenges -- or opportunities -- of measurement in SMM. Sure, a movie could launch a Twitter-only campaign and track it and know exactly that 1 tweet = 1 movie ticket, or whatever. But the nature of the beast is a lot more integrated than that - as you obviously know. Thanks for the comment! Cheers, Dave Ted – VERY INSIGHTFUL!

Funny that I was taking pains to be nice to the movie folks, but you saw it as a possible negative ROI and an expensive CPA proposition.

This is one of the challenges — or opportunities — of measurement in SMM. Sure, a movie could launch a Twitter-only campaign and track it and know exactly that 1 tweet = 1 movie ticket, or whatever. But the nature of the beast is a lot more integrated than that – as you obviously know.

Thanks for the comment!

Cheers,

Dave

]]> By: Ted Rooke http://area224.com/bet-on-the-bank/comment-page-1/#comment-412 Ted Rooke Tue, 27 Oct 2009 21:23:50 +0000 http://area224.com/?p=139#comment-412 Dave, its an interesting read, but it still begs the question... For example in your movie example you have a $5 acquisition cost (we've actually seen the number closer to $2 but thats beside the point) and a $10 LTV becasue they go to the movie 1X. You also assume that the "becoming a fan" and seeing the movie was a direct correlation, and the reason the fan saw the movie. My question is how many of these fans would have seen the movie anyway. If I was interested enough to fan the movie, clearly I was inclined to go see it anyway. As a big budget flick, I'm sure they've got tons of other communications happening stimulating demand, so what actually did that $5 in acquisition costs get them. If we assume 25% of fans saw the movie as a direct result of being a fan then thats a $20 CPA and a -100% ROI! Dave, its an interesting read, but it still begs the question…
For example in your movie example you have a $5 acquisition cost (we’ve actually seen the number closer to $2 but thats beside the point) and a $10 LTV becasue they go to the movie 1X.

You also assume that the “becoming a fan” and seeing the movie was a direct correlation, and the reason the fan saw the movie.
My question is how many of these fans would have seen the movie anyway. If I was interested enough to fan the movie, clearly I was inclined to go see it anyway. As a big budget flick, I’m sure they’ve got tons of other communications happening stimulating demand, so what actually did that $5 in acquisition costs get them. If we assume 25% of fans saw the movie as a direct result of being a fan then thats a $20 CPA and a -100% ROI!

]]> By: Dave http://area224.com/bet-on-the-bank/comment-page-1/#comment-406 Dave Sat, 24 Oct 2009 01:30:29 +0000 http://area224.com/?p=139#comment-406 You know the drill - you and I could compete for number of followers, and then find someone else with a 1 in front of that number. Quality trumps quantity any day -- and even those I know with 20,000+ followers (who aren't famous) got there through engagement, conversations, and back-and-forth. You know the drill – you and I could compete for number of followers, and then find someone else with a 1 in front of that number. Quality trumps quantity any day — and even those I know with 20,000+ followers (who aren’t famous) got there through engagement, conversations, and back-and-forth.

]]> By: Dave http://area224.com/bet-on-the-bank/comment-page-1/#comment-405 Dave Sat, 24 Oct 2009 01:29:00 +0000 http://area224.com/?p=139#comment-405 Sarah - you've touched upon a Holy Grail of sorts - how to get the big brands (like movie studios) to understand that genuine human interaction may be the thing that tips the scales. Keep banking where they know ya! Cheers, Dave Sarah – you’ve touched upon a Holy Grail of sorts – how to get the big brands (like movie studios) to understand that genuine human interaction may be the thing that tips the scales.

Keep banking where they know ya!

Cheers,

Dave

]]> By: Gary Unger http://area224.com/bet-on-the-bank/comment-page-1/#comment-404 Gary Unger Fri, 23 Oct 2009 23:00:36 +0000 http://area224.com/?p=139#comment-404 Here here! So on target. I think we are switching from mass follower to quality follows. Here here! So on target. I think we are switching from mass follower to quality follows.

]]> By: Sarah Cooper http://area224.com/bet-on-the-bank/comment-page-1/#comment-402 Sarah Cooper Fri, 23 Oct 2009 19:37:26 +0000 http://area224.com/?p=139#comment-402 A coworker teases me about living in Mayberry when I tell her about my little three branch bank - but you know, I pull into the drive through, I know the teller and she knows me, my husband, my Dad, my brother ... and I wouldn't go any place else no matter what another bank offered me. I use social media in my own job - I know my clients and they know me. I really do care about them, and you can't fake that. It'll ring true at the drive through or through the computer. And you're right, I'd bet on that every time. A coworker teases me about living in Mayberry when I tell her about my little three branch bank – but you know, I pull into the drive through, I know the teller and she knows me, my husband, my Dad, my brother … and I wouldn’t go any place else no matter what another bank offered me.

I use social media in my own job – I know my clients and they know me. I really do care about them, and you can’t fake that. It’ll ring true at the drive through or through the computer. And you’re right, I’d bet on that every time.

]]> By: Dave http://area224.com/bet-on-the-bank/comment-page-1/#comment-401 Dave Fri, 23 Oct 2009 16:49:53 +0000 http://area224.com/?p=139#comment-401 Thanks, Clay... I wish more local businesses would start looking at Social Media Marketing as an extension of their customer service - and another way to interact with people on their terms. Considering my lack of faith in the big banks, I'd definitely be rolling in to Community First! Cheers, Dave Thanks, Clay…

I wish more local businesses would start looking at Social Media Marketing as an extension of their customer service – and another way to interact with people on their terms.

Considering my lack of faith in the big banks, I’d definitely be rolling in to Community First!

Cheers,

Dave

]]> By: Clay Schossow http://area224.com/bet-on-the-bank/comment-page-1/#comment-400 Clay Schossow Fri, 23 Oct 2009 16:22:47 +0000 http://area224.com/?p=139#comment-400 Hey Dave, Great post, thanks for pointing me in its direction. The math is definitely "simplified," but the overall point couldn't be more true. The marketer that truly engages and interacts with its following will be the ultimate winner. I absolutely love the contests that the bank is doing -- great way to drive interaction with followers and to lure in new people. Enjoyed the read! Clay Hey Dave,

Great post, thanks for pointing me in its direction. The math is definitely “simplified,” but the overall point couldn’t be more true. The marketer that truly engages and interacts with its following will be the ultimate winner.

I absolutely love the contests that the bank is doing — great way to drive interaction with followers and to lure in new people.

Enjoyed the read!

Clay

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